FLCOX vs. QSPNX

Last updated Aug 1, 2026

FLCOX (Fidelity Large Cap Value Index Fund) and QSPNX (AQR Style Premia Alternative Fund Class N) are both mutual funds - FLCOX is a Large Cap Value Equities fund tracking the Russell 1000 Value Index, while QSPNX is a Multistrategy fund actively managed by AQR. FLCOX is passively managed, while QSPNX is actively managed. Over the past 5 years, FLCOX returned 11.70%/yr vs 19.85%/yr for QSPNX. Their 0.00 correlation means their historical movements had little consistent relationship. FLCOX charges 0.04%/yr vs 6.14%/yr for QSPNX.

Performance

FLCOX vs. QSPNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Large Cap Value Index Fund (FLCOX) and AQR Style Premia Alternative Fund Class N (QSPNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLCOX achieves a 20.05% return, which is significantly higher than QSPNX's 17.58% return.

FLCOX

• 1D: 0.49%
• 1M: 1.47%
• 6M: 14.83%
• YTD: 20.05%
• 1Y: 32.24%
• 3Y*: 17.69%
• 5Y*: 11.70%
• 10Y*: —
• ALL TIME*: 10.99%

QSPNX

• 1D: 0.50%
• 1M: 6.59%
• 6M: 14.37%
• YTD: 17.58%
• 1Y: 22.00%
• 3Y*: 20.44%
• 5Y*: 19.85%
• 10Y*: 7.51%
• ALL TIME*: 7.52%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FLCOX Fidelity Large Cap Value Index Fund	$0.00	$0.00	$0.00
QSPNX AQR Style Premia Alternative Fund Class N	$0.00	$0.00	$0.00

FLCOX vs. QSPNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLCOX Fidelity Large Cap Value Index Fund	20.05%	15.90%	14.38%	11.48%	-7.57%	25.09%	2.87%	26.54%	-8.38%	10.90%
QSPNX AQR Style Premia Alternative Fund Class N	17.58%	14.35%	21.33%	12.14%	30.40%	24.63%	-22.17%	-8.35%	-12.60%	11.74%

Correlation

The correlation between FLCOX and QSPNX is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.13
Correlation (3Y) Balances recent behavior with more history.	-0.08
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.08
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.00

The correlation between FLCOX and QSPNX shifts across timeframes, from -0.13 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FLCOX vs. QSPNX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLCOX

FLCOX Risk / Return Rank: 94
FLCOX Sharpe Ratio Rank: 95
FLCOX Sortino Ratio Rank: 93
FLCOX Omega Ratio Rank: 89
FLCOX Calmar Ratio Rank: 96
FLCOX Martin Ratio Rank: 97

QSPNX

QSPNX Risk / Return Rank: 89
QSPNX Sharpe Ratio Rank: 90
QSPNX Sortino Ratio Rank: 90
QSPNX Omega Ratio Rank: 83
QSPNX Calmar Ratio Rank: 96
QSPNX Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLCOX vs. QSPNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Large Cap Value Index Fund (FLCOX) and AQR Style Premia Alternative Fund Class N (QSPNX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FLCOX	QSPNX	Difference
Sharpe ratio: Return per unit of total volatility	2.59	2.26	+0.34
Sortino ratio: Return per unit of downside risk	3.65	3.36	+0.29
Omega ratio: Gain probability vs. loss probability	1.46	1.39	+0.07
Calmar ratio: Return relative to maximum drawdown	4.35	4.32	+0.03
Martin ratio: Return relative to average drawdown	18.62	11.74	+6.88

FLCOX vs. QSPNX - Sharpe Ratio Comparison

The current FLCOX Sharpe Ratio is 2.59, which is comparable to the QSPNX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of FLCOX and QSPNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FLCOX vs. QSPNX - Drawdown Comparison

The maximum FLCOX drawdown since its inception was -38.28%, smaller than the maximum QSPNX drawdown of -41.79%. Use the drawdown chart below to compare losses from any high point for FLCOX and QSPNX.

Drawdown Indicators

	FLCOX	QSPNX	Difference
Max Drawdown Largest peak-to-trough decline	-38.28%	-41.79%	+3.51%
Max Drawdown (1Y) Largest decline over 1 year	-6.80%	-5.05%	-1.75%
Max Drawdown (3Y) Largest decline over 3 years	-15.60%	-9.31%	-6.29%
Max Drawdown (5Y) Largest decline over 5 years	-19.00%	-17.17%	-1.83%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.79%	—
Current Drawdown Current decline from peak	-0.56%	0.00%	-0.56%
Average Drawdown Average peak-to-trough decline	-4.39%	-9.49%	+5.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	1.85%	-0.25%

Volatility

FLCOX vs. QSPNX - Volatility Comparison

Fidelity Large Cap Value Index Fund (FLCOX) has a higher volatility of 2.92% compared to AQR Style Premia Alternative Fund Class N (QSPNX) at 2.28%. This indicates that FLCOX's price experiences larger fluctuations and is considered to be riskier than QSPNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLCOX	QSPNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	2.28%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	8.72%	7.19%	+1.53%
Volatility (1Y) Calculated over the trailing 1-year period	11.43%	9.70%	+1.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.84%	15.83%	-0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.56%	12.85%	+4.71%

FLCOX vs. QSPNX - Expense Ratio Comparison

FLCOX has a 0.04% expense ratio, which is lower than QSPNX's 6.14% expense ratio.

Dividends

FLCOX vs. QSPNX - Dividend Comparison

FLCOX's dividend yield for the trailing twelve months is around 0.87%, less than QSPNX's 2.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLCOX Fidelity Large Cap Value Index Fund	0.87%	1.51%	1.92%	1.99%	2.01%	1.55%	2.28%	3.82%	2.79%	0.60%	0.00%	0.00%
QSPNX AQR Style Premia Alternative Fund Class N	2.03%	2.39%	6.80%	23.73%	22.62%	12.61%	0.00%	1.63%	0.51%	6.81%	1.75%	5.68%

Frequently Asked Questions

Can I hold both FLCOX and QSPNX in my portfolio?

FLCOX and QSPNX have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLCOX or QSPNX?

FLCOX has higher volatility (2.92%) compared to QSPNX (2.28%). In terms of maximum drawdown, FLCOX dropped -38.28% vs QSPNX's -41.79%.

Which has better risk-adjusted returns?

FLCOX currently has the higher Sharpe Ratio (2.59 vs 2.26), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.